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This paper studies the interplay between asset bubbles and product market competition. It offers two main insights. The … rational bubbles possible even when there is no overaccumulation of capital. The second is that when providing a production … subsidy, bubbles stimulate competition and reduce monopoly rents. I show that bubbles can destroy efficient investment and …
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; Doping ; Radsport ; Spieltheorie ; Gefangenen Dilemma ; Principal-Agent-Theorie ; Assurance Game ; Informationskaskaden …
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Im folgenden Beitrag wird die Dynamik von Marktprozessen in der deutschen Automobilindustrie mit Hilfe von Regelkreismodellen und Zeitreihenanalysen sichtbar gemacht und quantifiziert. Dargestellt werden der Markträumungs-, der Renditenormalisierungs-, der Übermachterosions-, der...
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In spite of the apparent general consensus, both economic theory in abstracto and the political practice in the realm …
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Neoclassical economists argue that competition promotes efficiency. They consider technology as given though. In the long run, technological progress is an important determinant of the level of welfare and Schumpeter argued that monopoly rents help entrepreneurs to capture the gains of R&D and,...
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